Talisman Sinopec Energy UK to Cut 300 Jobs
North Sea oil and gas field operator Talisman Sinopec Energy UK said it would cut 300 jobs due to falling production levels and rising operating costs hurt by low oil prices. The company said the number represented a split between 100 employees and 200 contractor positions. The company also introduced immediate reductions in contractor rates. Talisman Sinopec Energy UK is a joint venture between Canada's Talisman Energy Inc and Addax Petroleum UK Limited, a wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group). The company has a total workforce
Ithaca Gets New COO
experience in the oil and gas industry. He has held various technical and senior management positions in the North Sea and internationally for Royal Dutch Shell plc and was previously Group Head of Operations for BG Group plc and, most recently, Technical & Production Director of Talisman Sinopec Energy UK Limited. In accordance with the Company’s Stock Option Plan, the Board of Directors has granted 750,000 share options to Mr Buchan at a price of C$1.06, which was the closing price on the Toronto Stock Exchange on 5 December 2014. The options may be exercised for a period of four
